- Nykaa has entered into the unicorn club with valuation of $1.2 billion
- The company was founded by Falguni Nayar in 2012
Nykaa, an online cosmetics & beauty products portal, has raised ₹66.64 crore from its existing primary investor Steadview Capital. At present, Nykaa is valued at $1.2 billion, thus entering the startup unicorn club. The company was founded by Falguni Nayar in 2012.
The company will utilize these funds in business growth and strengthen its team.
Earlier in April this year, Company has raised ₹100 crore from Steadview Capital.
Nykaa follows an inventory-based model with warehouses in Mumbai, New Delhi and Bangalore. In addition to its primary ecommerce business, it has an offline presence via 68 brick-and-mortar stores across the country. It claims to have over 3 lakh products across 1,500 brands. It has two offline store formats called Nykaa Luxe and Nykaa On Trend. The Luxe format features Indian and international luxury beauty brands along with Nykaa Beauty, the in-house collection of beauty products. The latter format has products curated by category on basis of their popularity.
For the financial year ended on 31st March 2019, company reported revenue of ₹1228.80 crore with post tax loss of ₹21.08 crore.